Remember how FED held rates steady which sent the usd/jpy.. from 108.40 to 105.1 (lowest) currently at 106.01.. Imagine what will happen if ECB cut rates or keep it steady instead of what their hawkish attitude has been implying for the past week that has made the EUR/USD KING.. surging from 1.55 to 1.588 seems like a whoop-pa right there.. If they don't increase the rates.. Good Game to Eur/USd.. it will prob go down to 1.50 pretty fast due to the lots of overbought but little of selling for the past week.
Remember it's the time where there's gonna be lots of volatility. So one might wanna play it with caution.
Good Trading all~
Anil
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